Tag: $Novartis

Shares of Swiss drugmaker Novartis climbed as much as 4.8% in early deals on Tuesday, after the company raised its full-year guidance following better-than-expected first-quarter results.

FRANKFURT, Nov 28 (Reuters) – Novartis has dialled up its sales growth target to 5% per year until 2027, citing demand for innovative drugs after the spin off of its generics business.

The Swiss drugmaker announced intentions to spin off the Sandoz business in August, offering stakeholders one Sandoz share for every five Novartis shares via a dividend-in-kind distribution.

 Novartis shareholders on Friday voted in favour of spinning off the Swiss company’s generic-drugs business Sandoz, with investors holding 99.7% of the represented capital supporting the complete separation.

FRANKFURT, July 18 (Reuters) – Novartis (NOVN.S) on Tuesday raised its full-year earnings forecast for the second time on strong drug sales and mapped out the planned separation and stock market debut of its generic medicines division Sandoz for early October.

Chinook Therapeutics stock surged 66% in premarket trading Monday after Swiss pharmaceutical company Novartis agreed to buy the biopharma company for up to $3.5 billion.